Insight Enterprises (NSIT) 10-Q2 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	Apr. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	0-25092
Entity Registrant Name	INSIGHT ENTERPRISES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-0766246
Entity Address, Address Line One	2701 E. Insight Way
Entity Address, City or Town	Chandler
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85286
City Area Code	480
Local Phone Number	333-3000
Title of 12(b) Security	Common stock, par value $0.01
Trading Symbol	NSIT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		32,555,841
Entity Central Index Key	0000932696
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 379,111	$ 268,730
Accounts receivable, net of allowance for doubtful accounts of $13,008 and $12,623, respectively	3,573,253	3,568,290
Inventories	169,457	184,605
Contract assets, net	100,648	120,518
Other current assets	218,882	189,158
Total current assets	4,441,351	4,331,301
Long-term contract assets, net	121,994	132,780
Property and equipment, net of accumulated depreciation and amortization of $219,112 and $219,591, respectively	208,365	210,061
Goodwill	680,876	684,345
Intangible assets, net of accumulated amortization of $189,796 and $175,463, respectively	354,146	369,687
Long-term accounts receivable	618,672	412,666
Other assets	141,835	145,510
Total assets	6,567,239	6,286,350
Current liabilities:
Accounts payable—trade	2,422,632	2,255,183
Accounts payable—inventory financing facilities	227,062	231,850
Accrued expenses and other current liabilities	517,707	538,346
Current portion of long-term debt	331,566	348,004
Total current liabilities	3,498,967	3,373,383
Long-term debt	550,006	592,517
Deferred income taxes	23,306	27,588
Long-term accounts payable	566,233	353,794
Other liabilities	173,236	203,335
Total liabilities	4,811,748	4,550,617
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value, 3,000 shares authorized; no shares issued	0	0
Common stock, $0.01 par value, 100,000 shares authorized; 32,548 shares at March 31, 2024 and $32,590 shares at December 31, 2023 issued and outstanding	325	326
Additional paid-in capital	326,539	328,607
Retained earnings	1,482,330	1,448,412
Accumulated other comprehensive loss – foreign currency translation adjustments	(53,703)	(41,612)
Total stockholders’ equity	1,755,491	1,735,733
Total liabilities and stockholders' equity	$ 6,567,239	$ 6,286,350

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 13,008	$ 12,623
Accumulated depreciation and amortization of property and equipment	219,112	219,591
Accumulated amortization of intangible assets	$ 189,796	$ 175,463
Preferred stock, par value ( in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	32,548,000	32,590,000
Common stock, shares outstanding (in shares)	32,548,000	32,590,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net sales:
Total net sales	$ 2,379,485	$ 2,323,947
Costs of goods sold:
Total costs of goods sold	1,938,557	1,932,632
Gross profit	440,928	391,315
Operating expenses:
Selling and administrative expenses	337,434	310,001
Severance and restructuring expenses	2,227	3,802
Acquisition and integration related expenses	1,281	51
Earnings from operations	99,986	77,461
Non-operating expense (income):
Interest expense, net	12,557	10,348
Other (income) expense, net	(763)	752
Earnings before income taxes	88,192	66,361
Income tax expense	21,165	16,389
Net earnings	$ 67,027	$ 49,972
Net earnings per share:
Basic (in usd per share)	$ 2.06	$ 1.48
Diluted (in usd per share)	$ 1.74	$ 1.34
Shares used in per share calculations:
Basic (in shares)	32,596	33,706
Diluted (in shares)	38,435	37,207
Products
Net sales:
Total net sales	$ 1,963,955	$ 1,967,645
Costs of goods sold:
Total costs of goods sold	1,771,584	1,772,729
Gross profit	192,371	194,916
Services
Net sales:
Total net sales	415,530	356,302
Costs of goods sold:
Total costs of goods sold	166,973	159,903
Gross profit	$ 248,557	$ 196,399

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 67,027	$ 49,972
Other comprehensive (loss) gain, net of tax:
Foreign currency translation adjustments	(12,091)	4,606
Total comprehensive income	$ 54,936	$ 54,578

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings
Common stock, beginning balance (in shares) at Dec. 31, 2022		34,009
Treasury stock, beginning balance (in shares) at Dec. 31, 2022			0
Beginning balance at Dec. 31, 2022	$ 1,638,068	$ 340	$ 0	$ 327,872	$ (58,802)	$ 1,368,658
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)		165
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	(7,920)	$ 2		(7,922)
Stock-based compensation expense	6,896			6,896
Repurchase of treasury stock (in shares)			(913)
Repurchase of treasury stock	(117,129)		$ (117,129)
Retirement of treasury stock (in shares)		(913)	913
Retirement of treasury stock	0	$ (9)	$ 117,129	(8,668)		(108,452)
Excise tax on stock repurchases	(895)			(895)
Foreign currency translation adjustments, net of tax	4,606				4,606
Net earnings	49,972					49,972
Common stock, ending balance (in shares) at Mar. 31, 2023		33,261
Treasury stock, ending balance (in shares) at Mar. 31, 2023			0
Ending balance at Mar. 31, 2023	$ 1,573,598	$ 333	$ 0	317,283	(54,196)	1,310,178
Common stock, beginning balance (in shares) at Dec. 31, 2023	32,590	32,590
Treasury stock, beginning balance (in shares) at Dec. 31, 2023			0
Beginning balance at Dec. 31, 2023	$ 1,735,733	$ 326	$ 0	328,607	(41,612)	1,448,412
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)		140
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	(9,040)	$ 1		(9,041)
Stock-based compensation expense	8,043			8,043
ESPP (in shares)		5
Employee stock purchase plan issuances	912			912
Shares issued upon conversion of Notes (in shares)		141
Shares issued upon conversion of Notes	0	$ 1		(1)
Shares received from bond hedge upon conversion of Notes (in shares)		(141)
Shares received from convertible note hedge upon conversion of Notes	0	$ (1)		1
Repurchase of treasury stock (in shares)			(187)
Repurchase of treasury stock	(35,000)		$ (35,000)
Retirement of treasury stock (in shares)		(187)	187
Retirement of treasury stock	0	$ (2)	$ 35,000	(1,889)		(33,109)
Excise tax on stock repurchases	(93)			(93)
Foreign currency translation adjustments, net of tax	(12,091)				(12,091)
Net earnings	$ 67,027					67,027
Common stock, ending balance (in shares) at Mar. 31, 2024	32,548	32,548
Treasury stock, ending balance (in shares) at Mar. 31, 2024			0
Ending balance at Mar. 31, 2024	$ 1,755,491	$ 325	$ 0	$ 326,539	$ (53,703)	$ 1,482,330

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net earnings	$ 67,027	$ 49,972
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	21,886	14,663
Provision for losses on accounts receivable	3,246	1,484
Non-cash stock-based compensation	8,043	6,896
Deferred income taxes	(4,423)	(4,284)
Amortization of debt issuance costs	1,224	1,213
Other adjustments	2,471	2,122
Changes in assets and liabilities:
(Increase) decrease in accounts receivable	(25,294)	197,918
Decrease (increase) in inventories	12,115	(1,146)
Decrease in contract assets	32,142	45
Increase in long-term accounts receivable	(206,154)	(14,434)
Increase in other assets	(26,821)	(8,405)
Increase (decrease) in accounts payable	184,511	(76,783)
Increase in long-term accounts payable	212,577	18,568
Decrease in accrued expenses and other liabilities	(35,371)	(27,669)
Net cash provided by operating activities:	247,179	160,160
Cash flows from investing activities:
Purchases of property and equipment	(6,482)	(9,106)
Net cash used in investing activities:	(6,482)	(9,106)
Cash flows from financing activities:
Net (repayments) borrowings under inventory financing facilities	(4,545)	108,257
Repurchases of common stock	(35,000)	(117,129)
Repayment of principal on the Notes	(16,895)	0
Earnout and acquisition related payments	(18,296)	0
Other payments	(8,360)	(7,988)
Net cash used in financing activities:	(125,267)	(140,654)
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	(5,074)	1,652
Increase in cash, cash equivalents and restricted cash	110,356	12,052
Cash, cash equivalents and restricted cash at beginning of period	270,785	165,718
Cash, cash equivalents and restricted cash at end of period	381,141	177,770
ABL revolving credit facility
Cash flows from financing activities:
Borrowings on ABL revolving credit facility	1,144,826	1,016,980
Repayments on ABL revolving credit facility	$ (1,186,997)	$ (1,140,774)

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Recently Issued Accounting Standards	Basis of Presentation and Recently Issued Accounting Standards We help our clients accelerate their digital journey to modernize their businesses and maximize the value of technology. We serve these clients in North America; Europe, the Middle East and Africa (“EMEA”); and Asia-Pacific (“APAC”). As a Fortune 500-ranked solutions integrator, we enable secure, end-to-end digital transformation and meet the needs of our clients through a comprehensive portfolio of solutions, far-reaching partnerships and 36 years of broad IT expertise. We amplify our solutions and services with global scale, local expertise and our e-commerce experience, enabling our clients to realize their digital ambitions in multiple ways. Our company is organized in the following three operating segments, which are primarily defined by their related geographies: Operating Segment Geography North America United States and Canada EMEA Europe, Middle East and Africa APAC Asia-Pacific Our offerings in North America and certain countries in EMEA and APAC include hardware, software and services, including cloud solutions. Our offerings in the remainder of our EMEA and APAC segments consist largely of software and certain software-related services and cloud solutions. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly our financial position as of March 31, 2024 and our results of operations for the three months ended March 31, 2024 and 2023 and cash flows for the three months ended March 31, 2024 and 2023. The consolidated balance sheet as of December 31, 2023 was derived from the audited consolidated balance sheet at such date. The accompanying unaudited consolidated financial statements and notes have been prepared in accordance with the rules and regulations promulgated by the SEC and consequently do not include all of the disclosures normally required by United States generally accepted accounting principles (“GAAP”). The results of operations for interim periods are not necessarily indicative of results for the full year, due in part to the seasonal nature of our business. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements, including the related notes thereto, in our Annual Report on Form 10-K for the year ended December 31, 2023. The consolidated financial statements include the accounts of Insight Enterprises, Inc. and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Additionally, these estimates and assumptions affect the reported amounts of net sales and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, we evaluate our estimates, including those related to sales recognition, anticipated achievement levels under partner funding programs, assumptions related to stock-based compensation valuation, allowances for doubtful accounts, valuation of inventories, litigation-related obligations, valuation allowances for deferred tax assets and impairment of long-lived assets, including purchased intangibles and goodwill, if indicators of potential impairment exist. Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures", which requires public entities to disclose information about their reportable segments' significant expenses on an interim and annual basis. The amendments aim to improve interim disclosure requirements, clarify situations where an entity can reveal multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and include other disclosure requirements. The main objective of the amendments is to assist investors in understanding the entity's overall performance and evaluate potential future cash flows. The guidance is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024 with early adoption being permitted. The updated guidance is not expected to have a material effect on the Company's consolidated financial statements or disclosures. There have been no other material changes in, or additions to the recently issued accounting standards as previously reported in Note 1 to our Consolidated Financial Statements in Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2023 that affect or may affect our current financial statements.

Receivables, Contract Liabiliti

Receivables, Contract Liabilities and Performance Obligations	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Receivables, Contract Liabilities and Performance Obligations	Receivables, Contract Liabilities and Performance Obligations Contract Balances The following table provides information about receivables and contract liabilities as of March 31, 2024 and December 31, 2023 (in thousands): March 31, December 31, Current receivables, which are included in “Accounts receivable, net” $ 3,573,253 $ 3,568,290 Contract assets, net 100,648 120,518 Long-term accounts receivable 618,672 412,666 Long-term contract assets, net 121,994 132,780 Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” 105,143 107,217 Significant changes in the contract assets balances during the three months ended March 31, 2024 are as follows (in thousands): Contract Balances at December 31, 2023 $ 272,287 Reclassification of beginning contract assets to receivables, as a result of rights to consideration becoming unconditional (40,523) Contract assets recognized, net of reclassification to receivables 9,429 Balances at March 31, 2024 $ 241,193 Contract assets consist of amounts the Company is entitled to for the resale of third-party consumption-based services, prior to payment becoming unconditional. In these transactions, the Company invoices clients for the gross amount of consideration it is responsible to collect, including amounts ultimately passed on to the third-party service providers. As of March 31, 2024, contract assets, net of allowances, were $222,642,000. Gross contract assets by our internal risk ratings as of March 31, 2024 are summarized as follows (in thousands): Contract assets Low risk $ 37,309 Moderate risk 60,218 High risk 143,666 Total contract assets $ 241,193 Changes in the contract liabilities balances during the three months ended March 31, 2024 are as follows (in thousands): Contract Balances at December 31, 2023 $ 107,217 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (37,570) Cash received in advance and not recognized as revenue 35,496 Balances at March 31, 2024 $ 105,143 During the three months ended March 31, 2023, the Company recognized revenue of $26,611,000 related to its contract liabilities. Transaction price allocated to the remaining performance obligations The following table includes estimated net sales related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2024 that are expected to be recognized in the future (in thousands): Services Remainder of 2024 $ 93,751 2025 51,922 2026 28,630 2027 and thereafter 42,778 Total remaining performance obligations $ 217,081 With the exception of remaining performance obligations associated with our OneCall Support Services contracts which are included in the table above regardless of original duration, the remaining performance obligations that have original expected durations of one year or less are not included in the table above. Amounts not included in the table above have an average original expected duration of nine months. Additionally, for our time and material services contracts, whereby we have the right to consideration from a client in an amount that corresponds directly with the value to the client of our performance completed to date, we recognized revenue in the amount to which we have a right to invoice as of March 31, 2024 and do not disclose information about related remaining performance obligations in the table above. Our time and material contracts have an average expected duration of 21 months. The majority of our backlog historically has been, and continues to be, open cancellable purchase orders. We do not believe that backlog as of any particular date is predictive of future results, therefore we do not include performance obligations under open cancellable purchase orders, which do not qualify for revenue recognition, in the table above.

Net Earnings Per Share

Net Earnings Per Share	3 Months Ended
Net Earnings Per Share	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Earnings Per Share	Net Earnings Per Share Basic earnings per share ("EPS") is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted EPS is computed on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding restricted stock units (“RSUs”) and certain shares underlying the Notes and the warrants relating to the Call Spread Transactions, as applicable. A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data): Three Months Ended 2024 2023 Numerator: Net earnings $ 67,027 $ 49,972 Denominator: Weighted average shares used to compute basic EPS 32,596 33,706 Dilutive potential common shares due to dilutive RSUs, net of tax effect 348 314 Dilutive potential common shares due to the Notes 3,228 2,310 Dilutive potential common shares due to the Warrants 2,263 877 Weighted average shares used to compute diluted EPS 38,435 37,207 Net earnings per share: Basic $ 2.06 $ 1.48 Diluted $ 1.74 $ 1.34

Debt, Inventory Financing Facil

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations	Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations Debt Our long-term debt consists of the following (in thousands): March 31, December 31, ABL revolving credit facility $ 549,996 $ 591,500 Convertible senior notes due 2025 331,540 347,988 Finance leases and other financing obligations 36 1,033 Total 881,572 940,521 Less: current portion of long-term debt (331,566) (348,004) Long-term debt $ 550,006 $ 592,517 On July 22, 2022, we entered into the Third Amendment to the Credit Agreement (as amended, the "credit agreement") to modify our senior secured revolving credit facility (the “ABL facility”), increasing the maximum borrowing amount from $1,200,000,000 to $1,800,000,000, including a maximum borrowing capacity that could be used for borrowing in certain foreign currencies of $350,000,000 and extending the maturity date. From time to time and at our option, we may request to increase the aggregate amount available for borrowing under the ABL facility by up to an aggregate of the U.S. dollar equivalent of $750,000,000, subject to customary conditions, including receipt of commitments from lenders. The ABL facility is guaranteed by certain of our material subsidiaries and is secured by a lien on certain of our assets and certain of each other borrower’s and each guarantor’s assets. The ABL facility provides for an uncommitted first-in, last-out revolving facility in an aggregate amount of up to $100,000,000 . The interest rates applicable to borrowings under the ABL facility are based on the average aggregate excess availability under the ABL facility as set forth on a pricing grid in the credit agreement. The ABL facility matures on July 22, 2027. As of March 31, 2024, eligible accounts receivable and inventory permitted availability to $1,403,547,000 of the $1,800,000,000 facility amount, of which $549,996,000 was outstanding. The ABL facility contains customary affirmative and negative covenants and events of default. If a default occurs (subject to customary grace periods and materiality thresholds) under the credit agreement, certain actions may be taken, including, but not limited to, possible termination of commitments and required payment of all outstanding principal amounts plus accrued interest and fees payable under the credit agreement. Convertible Senior Notes due 2025 In August 2019, we issued $350,000,000 aggregate principal amount of Notes that mature on February 15, 2025. The Notes bear interest at an annual rate of 0.75% payable semiannually, in arrears, on February 15 th and August 15 th of each year. The Notes are general unsecured obligations of Insight and are guaranteed on a senior unsecured basis by Insight Direct USA, Inc., a wholly owned subsidiary of Insight. Holders of the Notes may convert their notes at their option at any time prior to the close of business on the business day immediately preceding June 15, 2024, under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on December 31, 2019 (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day (the “market price trigger”); (2) during the five business day period after any five The Notes exceeded the market price trigger of $88.82 in the first quarter of 2024 and as such, the Notes are convertible at the option of the holders. The Notes mature on February 15, 2025, and we are required to settle the principal amount of the Notes in cash. As such, the Notes balance net of unamortized debt issuance costs is classified as a current liability. Upon conversion, we will pay cash equal to the principal amount of the Notes, plus shares of our common stock for any additional amounts due. The conversion rate will initially be 14.6376 shares of common stock per $1,000 principal amount of the Notes (equivalent to an initial conversion price of approximately $68.32 per share of common stock). The conversion rate is subject to change in certain circumstances and will not be adjusted for any accrued and unpaid interest. In addition, following certain events that occur prior to the maturity date or following our issuance of a notice of redemption, the conversion rate is subject to an increase for a holder who elects to convert their notes in connection with those events or during the related redemption period in certain circumstances. If we undergo a fundamental change, the holders may require us to repurchase for cash all or any portion of their notes at a fundamental change repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. As of March 31, 2024, none of the criteria for a fundamental change or a conversion rate adjustment had been met. The maximum number of shares issuable upon conversion, including the effect of a fundamental change and subject to other conversion rate adjustments, would be 6,788,208. In September 2023, an individual Note holder exercised their option to convert their Notes in the aggregate principal amount of $16,895,000, which was settled in January 2024. As a result, the principal amount of the Notes was settled in cash with additional amounts due being settled in shares of our common stock. The Notes are subject to certain customary events of default and acceleration clauses. As of March 31, 2024, no such events have occurred. The Notes consist of the following balances reported within the consolidated balance sheets (in thousands): March 31, December 31, Liability: Principal $ 333,105 $ 350,000 Less: debt issuance costs, net of accumulated amortization (1,565) (2,012) Net carrying amount $ 331,540 $ 347,988 In January 2022, we filed an irrevocable settlement election notice with the note holders to inform them of our election to settle the principal amount of the Notes in cash. The remaining life of the debt issuance cost accretion is approximately 0.87 years. The effective interest rate on the principal of the Notes is 0.75%. Interest expense resulting from the Notes reported within the consolidated statement of operations for the three months ended March 31, 2024 and 2023 is made up of contractual coupon interest and amortization of debt issuance costs. Convertible Note Hedge and Warrant Transaction In connection and concurrent with the issuance of the Notes, we entered into the Call Spread Transactions with respect to the Company’s common stock. The convertible note hedge consists of an option to purchase up to 5,123,160 common stock shares at a price of $68.32 per share. The hedge expires on February 15, 2025 and can only be concurrently executed upon the conversion of the Notes. We paid approximately $66,325,000 for the convertible note hedge transaction. Additionally, we sold warrants to purchase 5,123,160 shares of common stock at a price of $103.12 per share. The warrants expire on May 15, 2025 and can only be exercised at maturity. The Company received aggregate proceeds of approximately $34,440,000 for the sale of the warrants. The Call Spread Transactions have no effect on the terms of the Notes and reduce potential dilution by effectively increasing the initial conversion price of the Notes to $103.12 per share of the Company’s common stock. Inventory Financing Facilities We have an unsecured inventory financing facility with MUFG Bank Ltd (“MUFG”) for $280,000,000. We have maximum availability under our unsecured inventory financing facility with PNC Bank, N.A. (“PNC”) of $375,000,000, including a $25,000,000 facility in Canada (the "Canada facility"). We also have an unsecured inventory financing facility with Wells Fargo in EMEA (the "EMEA facility") of $50,000,000. The inventory financing facilities will remain in effect until they are terminated by any of the parties. In the second quarter of 2023, the Company transitioned the reference rate for invoices issued in U.S. Dollars under the PNC facility from LIBOR to the Term Secured Overnight Financing Rate ("Term SOFR") benchmark provisions. If balances are not paid within stated vendor terms (typically 60 days), they will accrue interest at prime plus 2.00% on the MUFG facility, Canadian Dollar Offered Rate plus 4.50% on the Canada facility and Term SOFR, EURIBOR, or SONIA, as applicable, plus 4.50% and 0.25% on the PNC (other than the Canada facility) and EMEA facilities, respectively. Amounts outstanding under these facilities are classified separately as accounts payable – inventory financing facilities in the accompanying consolidated balance sheets and within cash flows from financing activities in the accompanying consolidated statements of cash flows.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rates for the three months ended March 31, 2024 and 2023 were 24.0% and 24.7%, respectively. Our effective tax rate was higher than the United States federal statutory rate of 21.0% due primarily to state income taxes and higher taxes on earnings in foreign jurisdictions, partially offset by excess tax benefits on the settlement of employee share-based compensation and tax benefits related to research and development activities. As of March 31, 2024 and December 31, 2023, we had approximately $14,654,000 and $13,947,000, respectively, of unrecognized tax benefits. Of these amounts, approximately $1,927,000 and $1,767,000, respectively, related to accrued interest. In the future, if recognized, the remaining liability associated with uncertain tax positions could affect our effective tax rate. We do not believe there will be any changes to our unrecognized tax benefits over the next 12 months that would have a material effect on our effective tax rate. We are currently under audit in various jurisdictions for tax years 2017 through 2022. Although the timing of the resolutions and/or closures of audits is highly uncertain, it is reasonably possible that the examination phase of these audits may be concluded within the next 12 months, which could increase or decrease the balance of our gross unrecognized tax benefits. However, based on the status of the various examinations in multiple jurisdictions, an estimate of the range of reasonably possible outcomes cannot be made at this time, but the estimated effect on our income tax expense and net earnings is not expected to be significant.

Share Repurchase Program

Share Repurchase Program	3 Months Ended
Share Repurchase Program	Mar. 31, 2024
Equity [Abstract]
Share Repurchase Program	Share Repurchase Program On May 18, 2023, we announced that our Board of Directors authorized the repurchase of up to $300,000,000 of our common stock, including $100,000,000 that remained available from prior authorizations. As of March 31, 2024, approximately $165,020,476 remained available for repurchases under our share repurchase plan. Our share repurchases may be made on the open market, subject to Rule 10b-18 or in privately negotiated transactions, through block trades, through 10b5-1 plans or otherwise, at management’s discretion. The number of shares purchased and the timing of the purchases will be based on market conditions, working capital requirements, general business conditions and other factors. We intend to retire the repurchased shares.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contractual In the ordinary course of business, we issue performance bonds to secure our performance under certain contracts or state tax requirements. As of March 31, 2024, we had approximately $27,672,314 of performance bonds outstanding. These bonds are issued on our behalf by a surety company on an unsecured basis; however, if the surety company is ever required to pay out under the bonds, we have contractually agreed to reimburse the surety company. Management believes that payments, if any, related to these performance bonds are not probable at March 31, 2024. Accordingly, we have not accrued any liabilities related to such performance bonds in our consolidated financial statements. The Company has a minimum required purchase commitment of approximately $100,467,000 pursuant to an agreement primarily related to cloud services. The total purchase commitment is required to be met or exceeded during a 5-year period, starting October 1, 2023 through September 30, 2028. At March 31, 2024 we had a remaining purchase commitment of $91,529,000. If total purchases do not meet the required commitment by September 30, 2028, the shortfall must be prepaid by the Company and can be used for further purchases through September 30, 2029. The Company has a minimum required purchase commitment of approximately $40,000,000 pursuant to an agreement primarily related to software as a service. The total purchase commitment is required to be met during a 4-year period, starting November 30, 2022 through November 29, 2026. At March 31, 2024 we had a remaining purchase commitment of $26,123,000. The Company has recorded a contingent liability of approximately $21,415,000 payable to a partner to settle various contractual commitments to resell a minimum amount of cloud services to clients. Employment Contracts and Severance Plans We have employment contracts with, and severance plans covering, certain officers and management teammates under which severance payments would become payable in the event of specified terminations without cause or terminations under certain circumstances after a change in control. In addition, vesting of outstanding nonvested RSUs would accelerate following a change in control. If severance payments under the current employment agreements or plan payments were to become payable, the severance payments would generally range from three Indemnifications From time to time, in the ordinary course of business, we enter into contractual arrangements under which we agree to indemnify either our clients or third-party service providers from certain losses incurred relating to services performed on our behalf or for losses arising from defined events, which may include litigation or claims relating to past performance. These arrangements include, but are not limited to, the indemnification of our clients for certain claims arising out of our performance under our sales contracts, the indemnification of our landlords for certain claims arising from our use of leased facilities and the indemnification of the lenders that provide our credit facilities for certain claims arising from their extension of credit to us. Such indemnification obligations may not be subject to maximum loss clauses. Management believes that payments, if any, related to these indemnifications are not probable at March 31, 2024. Accordingly, we have not accrued any liabilities related to such indemnifications in our consolidated financial statements. We have entered into separate indemnification agreements with certain of our executive officers and with each of our directors. These agreements require us, among other requirements, to indemnify such officers and directors against expenses (including attorneys’ fees), judgments and settlements incurred by such individual in connection with any action arising out of such individual’s status or service as our executive officer or director (subject to exceptions such as where the individual failed to act in good faith or in a manner the individual reasonably believed to be in, or not opposed to, the best interests of the Company) and to advance expenses incurred by such individual with respect to which such individual may be entitled to indemnification by us. There are no pending legal proceedings that involve the indemnification of any of the Company’s directors or officers. Contingencies Related to Third-Party Review From time to time, we are subject to potential claims and assessments from third parties. We are also subject to various governmental, client and partner audits. We continually assess whether or not such claims have merit and warrant accrual. Where appropriate, we accrue estimates of anticipated liabilities in the consolidated financial statements. Such estimates are subject to change and may affect our results of operations and our cash flows. Legal Proceedings From time to time, we are party to various legal proceedings incidental to the business, including preference payment claims asserted in client bankruptcy proceedings, indemnification claims, claims of alleged infringement of patents, trademarks, copyrights and other intellectual property rights, employment claims, claims related to services provided, interruptions, or outages, claims of alleged non-compliance with contract provisions and claims related to alleged violations of laws and regulations. We regularly evaluate the status of the legal proceedings in which we are involved to assess whether a loss is probable or there is a reasonable possibility that a loss, or an additional loss, may have been incurred and determine if accruals are required. If accruals are not required, we further evaluate each legal proceeding to assess whether an estimate of possible loss or range of possible loss can be made. Although litigation is inherently unpredictable, we believe that we have adequate provisions for any probable and estimable losses. It is possible, nevertheless, that our consolidated financial position, results of operations or liquidity could be materially and adversely affected in any particular period by the work required pursuant to any legal proceedings or the resolution of any legal proceedings during such period. Legal expenses related to defense of any legal proceeding or the negotiations, settlements, rulings and advice of outside legal counsel in connection with any legal proceedings are expensed as incurred.

Segment Information

Segment Information	3 Months Ended
Segment Information	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information We operate in three reportable geographic operating segments: North America; EMEA; and APAC. Our offerings in North America and certain countries in EMEA and APAC include IT hardware, software and services, including cloud solutions. Our offerings in the remainder of our EMEA and APAC segments consist largely of software and certain software-related services and cloud solutions. In the following table, revenue is disaggregated by our reportable operating segments, which are primarily defined by their related geographies, as well as by major product offering, by major client group and by recognition on either a gross basis as a principal in the arrangement, or on a net basis as an agent, for the three months ended March 31, 2024 and 2023 (in thousands): Three Months Ended March 31, 2024 North America EMEA APAC Consolidated Major Offerings Hardware $ 991,066 $ 136,314 $ 7,347 $ 1,134,727 Software 595,240 203,252 30,736 829,228 Services 318,516 73,275 23,739 415,530 $ 1,904,822 $ 412,841 $ 61,822 $ 2,379,485 Major Client Groups Large Enterprise / Corporate $ 1,367,303 $ 308,298 $ 22,168 $ 1,697,769 Commercial 357,289 8,913 15,063 381,265 Public Sector 180,230 95,630 24,591 300,451 $ 1,904,822 $ 412,841 $ 61,822 $ 2,379,485 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,762,245 $ 381,082 $ 52,524 $ 2,195,851 Net revenue recognition (Agent) 142,577 31,759 9,298 183,634 $ 1,904,822 $ 412,841 $ 61,822 $ 2,379,485 Three Months Ended March 31, 2023 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,155,639 $ 162,890 $ 10,316 $ 1,328,845 Software 394,797 214,561 29,442 638,800 Services 283,528 49,553 23,221 356,302 $ 1,833,964 $ 427,004 $ 62,979 $ 2,323,947 Major Client Groups Large Enterprise / Corporate $ 1,293,533 $ 309,063 $ 21,402 $ 1,623,998 Commercial 372,025 4,790 17,025 393,840 Public Sector 168,406 113,151 24,552 306,109 $ 1,833,964 $ 427,004 $ 62,979 $ 2,323,947 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,725,177 $ 401,343 $ 53,884 $ 2,180,404 Net revenue recognition (Agent) 108,787 25,661 9,095 143,543 $ 1,833,964 $ 427,004 $ 62,979 $ 2,323,947 All significant intercompany transactions are eliminated upon consolidation, and there are no differences between the accounting policies used to measure profit and loss for our segments or on a consolidated basis. Net sales are defined as net sales to external clients. None of our clients exceeded ten percent of consolidated net sales for the three months ended March 31, 2024 or 2023. A portion of our operating segments’ selling and administrative expenses arise from shared services and infrastructure that we have historically provided to them in order to realize economies of scale and to use resources efficiently. These expenses, collectively identified as corporate charges, include senior management expenses, internal audit, legal, tax, insurance services, treasury and other corporate infrastructure expenses. Charges are allocated to our operating segments, and the allocations have been determined on a basis that we consider to be a reasonable reflection of the utilization of services provided to or benefits received by the operating segments. The following tables present our results of operations by reportable operating segment for the periods indicated (in thousands): Three Months Ended March 31, 2024 North America EMEA APAC Consolidated Net sales: Products $ 1,586,306 $ 339,566 $ 38,083 $ 1,963,955 Services 318,516 73,275 23,739 415,530 Total net sales 1,904,822 412,841 61,822 2,379,485 Costs of goods sold: Products 1,426,673 310,072 34,839 1,771,584 Services 128,306 27,736 10,931 166,973 Total costs of goods sold 1,554,979 337,808 45,770 1,938,557 Gross profit 349,843 75,033 16,052 440,928 Operating expenses: Selling and administrative expenses 262,920 63,305 11,209 337,434 Severance and restructuring expenses 1,619 538 70 2,227 Acquisition and integration related expenses 1,281 — — 1,281 Earnings from operations $ 84,023 $ 11,190 $ 4,773 $ 99,986 Three Months Ended March 31, 2023 North America EMEA APAC Consolidated Net sales: Products $ 1,550,436 $ 377,451 $ 39,758 $ 1,967,645 Services 283,528 49,553 23,221 356,302 Total net sales 1,833,964 427,004 62,979 2,323,947 Costs of goods sold: Products 1,387,962 347,633 37,134 1,772,729 Services 130,858 18,483 10,562 159,903 Total costs of goods sold 1,518,820 366,116 47,696 1,932,632 Gross profit 315,144 60,888 15,283 391,315 Operating expenses: Selling and administrative expenses 248,820 49,905 11,276 310,001 Severance and restructuring expenses 3,087 702 13 3,802 Acquisition and integration related expenses 51 — — 51 Earnings from operations $ 63,186 $ 10,281 $ 3,994 $ 77,461 The following is a summary of our total assets by reportable operating segment (in thousands): March 31, December 31, North America $ 6,413,510 $ 6,521,591 EMEA 1,156,494 1,058,734 APAC 265,172 171,820 Corporate assets and intercompany eliminations, net (1,267,937) (1,465,795) Total assets $ 6,567,239 $ 6,286,350 We recorded the following pre-tax amounts, by reportable operating segment, for depreciation and amortization in the accompanying consolidated financial statements (in thousands): Three Months Ended 2024 2023 Depreciation and amortization of property and equipment: North America $ 6,073 $ 5,648 EMEA 757 596 APAC 131 109 6,961 6,353 Amortization of intangible assets: North America 13,146 7,785 EMEA 1,670 412 APAC 109 113 14,925 8,310 Total $ 21,886 $ 14,663

Acquisition

Acquisition	3 Months Ended
Acquisition	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Acquisition	Acquisition SADA Effective December 1, 2023, we acquired 100 percent of the issued and outstanding shares of SADA Systems, LLC (successor to SADA Systems, Inc. via conversion) ("SADA") for a cash purchase price of $399,762,000, excluding cash and cash equivalents acquired of $24,701,000. SADA is a leading cloud consultancy and technical services provider and six-time Google Cloud Partner of the Year, including cloud licensing and professional services to small, mid-sized and corporate/enterprise commercial clients, state and federal governments and educational institutions across North America, Europe and Asia. Based in Los Angeles, California, SADA has three office locations in North America, India and Armenia with more than 800 teammates. We believe that this acquisition advances our strategy and further strengthens our unique position as a leading Solutions Integrator offering market-leading multicloud solutions at scale. We further believe SADA's partnership with Google Cloud will enhance our ability to serve clients who operate across multiple clouds and accelerate adoption of widely sought-after technologies like GenAI. SADA is being reported as a part of our North America operating segment. The total purchase price of $424,252,000, which is net of cash and cash equivalents acquired of $24,701,000, is comprised of the initial purchase price of $423,290,000 paid in cash upon the SADA acquisition, contractual adjustments to the purchase price of $1,173,000 paid in March 2024 and a seller retention fund of $5,000,000 payable post-closing, and was partially reduced by an indemnification receivable of $1,798,000 to cover a gross receipts tax liability identified after acquisition. The purchase price also includes the estimated fair value of earnout payments of approximately $21,288,000, which provides an incentive opportunity for the sellers of up to $390,000,000, based on the SADA business achieving EBITDA and revenue growth performance through 2026. A portion of the purchase price was used to settle SADA’s stock-based compensation liabilities of $68,335,000 and pay SADA’s transaction costs of approximately $16,852,000 at acquisition and after contractual adjustments in accordance with the purchase agreement. The following table summarizes the preliminary purchase price and the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition (in thousands): Total purchase price, net of cash and cash equivalents acquired $ 424,252 Fair value of net assets acquired: Current assets $ 346,693 Identifiable intangible assets - see description below 158,100 Property and equipment 2,266 Other assets 260,185 Current liabilities (332,681) Long-term liabilities, including long-term accounts payable (126,078) Total fair value of net assets acquired 308,485 Excess purchase price over fair value of net assets acquired ("goodwill") $ 115,767 Under the acquisition method of accounting, the total purchase price as shown in the table above was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values. The excess of the purchase price over fair value of net assets acquired was recorded as goodwill. In the first quarter of 2024, a net adjustment of $1,255,000 was recorded to reduce goodwill, primarily due to a measurement period adjustment to contract assets, net. The estimated fair values of the majority of the current assets and liabilities are based upon their historical costs on the date of acquisition due to their short-term nature, with the exception of contract assets. The estimated fair value of the property and equipment are also based upon historical costs as they approximate fair value. The contract assets are an exception to the fair value model and are evaluated under relevant revenue recognition guidance including an allowance for credit losses using the current expected credit loss (“CECL”) model. The preliminary estimated fair value of net assets acquired was approximately $308,485,000, including $158,100,000 of identifiable intangible assets, consisting primarily of customer relationships of $124,700,000 and non-compete agreements of $26,200,000. The fair values were determined using the multiple-period excess earnings method and the lost income method, respectively. The identifiable intangibles resulting from the acquisition are amortized using the straight-line method over the following estimated useful lives: Intangible Assets Estimated Economic Life Customer relationships 10 Years Trade name 3 Years Non-compete agreements 3-5 Years Goodwill of $115,767,000, which was recorded in our North America operating segment, represents the excess of the purchase price over the estimated fair value assigned to tangible and identifiable intangible assets acquired and liabilities assumed from SADA. The goodwill is not amortized and will be tested for impairment annually in the fourth quarter of our fiscal year. The addition of the SADA technical employees to our team and the opportunity to grow our business are the primary factors making up the goodwill recognized as part of the transaction. The intangible assets and goodwill are tax deductible as the transaction is a deemed asset acquisition for U.S. federal income tax purposes after the Seller Parties undertook an internal restructuring pursuant to Section 368(a)(1)(F). The purchase price allocation is preliminary and was allocated using information currently available. Further information related to accounts receivable, contract assets, accounts payable, goodwill and various accrued expense balance assessments may lead to an adjustment of the purchase price allocation. We have consolidated the results of operations for SADA since its acquisition on December 1, 2023. Our historical results would not have been materially affected by the acquisition of SADA and, accordingly, we have not presented pro forma information as if the acquisition had been completed at the beginning of each period presented in our consolidated statement of operations. Amdaris Effective August 17, 2023, we acquired 100 percent of the issued and outstanding shares of Amdaris Group Limited (“Amdaris”) for a preliminary cash purchase price, net of cash and cash equivalents acquired, of approximately $82,875,000, excluding the estimated fair value of an earnout, reported in other liabilities, with a range of payouts through 2026 of $0 to $54,391,000. We paid the earnout of $14,348,000 for Amdaris's 2023 performance in March 2024. Amdaris, an award-winning software development and digital services specialist, provides innovative software development, application support, managed services and consultancy services to the customers in the United Kingdom with service delivery centers located in several eastern European countries. Amdaris has been recognized as a Microsoft Gold Certified Partner. We believe this acquisition expands our global Modern Apps and Data & AI areas of solutions expertise as a leading solutions integrator and enhances our technological capabilities and scale to deliver an even broader range of customized services and solutions to clients in EMEA. The preliminary fair value of net assets acquired was approximately $34,060,000, including $41,291,000 of identifiable intangible assets, consisting primarily of customer relationships that will be amortized using the straight line method over the estimated economic life of ten years. The preliminary purchase price was allocated using the information available. During the first quarter of 2024, we finalized the fair value assumptions for identifiable intangible assets with no changes being made to amounts previously recorded. Goodwill acquired approximated $71,698,000, which was recorded in our EMEA operating segment.

Subsequent Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event Effective May 1, 2024, we acquired 100 percent of the issued and outstanding shares of InfoCenter.io Corporation ("InfoCenter") for a preliminary cash purchase price, net of cash and cash equivalents acquired, of approximately $265,000,000. The purchase price also includes earn out payments, which provide an incentive opportunity for the sellers of up to $106,250,000, based on InfoCenter achieving certain EBITDA performance through April 2026. InfoCenter is a pure-play ServiceNow Elite Partner dedicated to automating business processes on the Now Platform®.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net earnings	$ 67,027	$ 49,972

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Rec_2

Basis of Presentation and Recently Issued Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures", which requires public entities to disclose information about their reportable segments' significant expenses on an interim and annual basis. The amendments aim to improve interim disclosure requirements, clarify situations where an entity can reveal multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and include other disclosure requirements. The main objective of the amendments is to assist investors in understanding the entity's overall performance and evaluate potential future cash flows. The guidance is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024 with early adoption being permitted. The updated guidance is not expected to have a material effect on the Company's consolidated financial statements or disclosures. There have been no other material changes in, or additions to the recently issued accounting standards as previously reported in Note 1 to our Consolidated Financial Statements in Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2023 that affect or may affect our current financial statements.

Basis of Presentation and Rec_3

Basis of Presentation and Recently Issued Accounting Standards (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule Of Operating Segments By Geographic Location	Our company is organized in the following three operating segments, which are primarily defined by their related geographies: Operating Segment Geography North America United States and Canada EMEA Europe, Middle East and Africa APAC Asia-Pacific

Receivables, Contract Liabili_2

Receivables, Contract Liabilities and Performance Obligations (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Summary of Information about Receivables and Contract Liabilities	The following table provides information about receivables and contract liabilities as of March 31, 2024 and December 31, 2023 (in thousands): March 31, December 31, Current receivables, which are included in “Accounts receivable, net” $ 3,573,253 $ 3,568,290 Contract assets, net 100,648 120,518 Long-term accounts receivable 618,672 412,666 Long-term contract assets, net 121,994 132,780 Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” 105,143 107,217
Summary of Changes in Contract Liabilities from Contract with Customers	Significant changes in the contract assets balances during the three months ended March 31, 2024 are as follows (in thousands): Contract Balances at December 31, 2023 $ 272,287 Reclassification of beginning contract assets to receivables, as a result of rights to consideration becoming unconditional (40,523) Contract assets recognized, net of reclassification to receivables 9,429 Balances at March 31, 2024 $ 241,193 Contract assets consist of amounts the Company is entitled to for the resale of third-party consumption-based services, prior to payment becoming unconditional. In these transactions, the Company invoices clients for the gross amount of consideration it is responsible to collect, including amounts ultimately passed on to the third-party service providers. As of March 31, 2024, contract assets, net of allowances, were $222,642,000. Gross contract assets by our internal risk ratings as of March 31, 2024 are summarized as follows (in thousands): Contract assets Low risk $ 37,309 Moderate risk 60,218 High risk 143,666 Total contract assets $ 241,193 Changes in the contract liabilities balances during the three months ended March 31, 2024 are as follows (in thousands): Contract Balances at December 31, 2023 $ 107,217 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (37,570) Cash received in advance and not recognized as revenue 35,496 Balances at March 31, 2024 $ 105,143
Summary of Estimated Net Sales Related to Performance Obligation	The following table includes estimated net sales related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2024 that are expected to be recognized in the future (in thousands): Services Remainder of 2024 $ 93,751 2025 51,922 2026 28,630 2027 and thereafter 42,778 Total remaining performance obligations $ 217,081

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	3 Months Ended
Net Earnings Per Share (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Summary of Reconciliation of Denominators of Basic and Diluted EPS Calculations	A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data): Three Months Ended 2024 2023 Numerator: Net earnings $ 67,027 $ 49,972 Denominator: Weighted average shares used to compute basic EPS 32,596 33,706 Dilutive potential common shares due to dilutive RSUs, net of tax effect 348 314 Dilutive potential common shares due to the Notes 3,228 2,310 Dilutive potential common shares due to the Warrants 2,263 877 Weighted average shares used to compute diluted EPS 38,435 37,207 Net earnings per share: Basic $ 2.06 $ 1.48 Diluted $ 1.74 $ 1.34

Debt, Inventory Financing Fac_2

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Our long-term debt consists of the following (in thousands): March 31, December 31, ABL revolving credit facility $ 549,996 $ 591,500 Convertible senior notes due 2025 331,540 347,988 Finance leases and other financing obligations 36 1,033 Total 881,572 940,521 Less: current portion of long-term debt (331,566) (348,004) Long-term debt $ 550,006 $ 592,517
Summary of Convertible Senior Notes Balances	The Notes consist of the following balances reported within the consolidated balance sheets (in thousands): March 31, December 31, Liability: Principal $ 333,105 $ 350,000 Less: debt issuance costs, net of accumulated amortization (1,565) (2,012) Net carrying amount $ 331,540 $ 347,988

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Mar. 31, 2024
Segment Reporting [Abstract]
Summary of Revenue Disaggregated by Reportable Operating Segments	In the following table, revenue is disaggregated by our reportable operating segments, which are primarily defined by their related geographies, as well as by major product offering, by major client group and by recognition on either a gross basis as a principal in the arrangement, or on a net basis as an agent, for the three months ended March 31, 2024 and 2023 (in thousands): Three Months Ended March 31, 2024 North America EMEA APAC Consolidated Major Offerings Hardware $ 991,066 $ 136,314 $ 7,347 $ 1,134,727 Software 595,240 203,252 30,736 829,228 Services 318,516 73,275 23,739 415,530 $ 1,904,822 $ 412,841 $ 61,822 $ 2,379,485 Major Client Groups Large Enterprise / Corporate $ 1,367,303 $ 308,298 $ 22,168 $ 1,697,769 Commercial 357,289 8,913 15,063 381,265 Public Sector 180,230 95,630 24,591 300,451 $ 1,904,822 $ 412,841 $ 61,822 $ 2,379,485 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,762,245 $ 381,082 $ 52,524 $ 2,195,851 Net revenue recognition (Agent) 142,577 31,759 9,298 183,634 $ 1,904,822 $ 412,841 $ 61,822 $ 2,379,485 Three Months Ended March 31, 2023 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,155,639 $ 162,890 $ 10,316 $ 1,328,845 Software 394,797 214,561 29,442 638,800 Services 283,528 49,553 23,221 356,302 $ 1,833,964 $ 427,004 $ 62,979 $ 2,323,947 Major Client Groups Large Enterprise / Corporate $ 1,293,533 $ 309,063 $ 21,402 $ 1,623,998 Commercial 372,025 4,790 17,025 393,840 Public Sector 168,406 113,151 24,552 306,109 $ 1,833,964 $ 427,004 $ 62,979 $ 2,323,947 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,725,177 $ 401,343 $ 53,884 $ 2,180,404 Net revenue recognition (Agent) 108,787 25,661 9,095 143,543 $ 1,833,964 $ 427,004 $ 62,979 $ 2,323,947
Summary of Financial Information about Reportable Operating Segments	The following tables present our results of operations by reportable operating segment for the periods indicated (in thousands): Three Months Ended March 31, 2024 North America EMEA APAC Consolidated Net sales: Products $ 1,586,306 $ 339,566 $ 38,083 $ 1,963,955 Services 318,516 73,275 23,739 415,530 Total net sales 1,904,822 412,841 61,822 2,379,485 Costs of goods sold: Products 1,426,673 310,072 34,839 1,771,584 Services 128,306 27,736 10,931 166,973 Total costs of goods sold 1,554,979 337,808 45,770 1,938,557 Gross profit 349,843 75,033 16,052 440,928 Operating expenses: Selling and administrative expenses 262,920 63,305 11,209 337,434 Severance and restructuring expenses 1,619 538 70 2,227 Acquisition and integration related expenses 1,281 — — 1,281 Earnings from operations $ 84,023 $ 11,190 $ 4,773 $ 99,986 Three Months Ended March 31, 2023 North America EMEA APAC Consolidated Net sales: Products $ 1,550,436 $ 377,451 $ 39,758 $ 1,967,645 Services 283,528 49,553 23,221 356,302 Total net sales 1,833,964 427,004 62,979 2,323,947 Costs of goods sold: Products 1,387,962 347,633 37,134 1,772,729 Services 130,858 18,483 10,562 159,903 Total costs of goods sold 1,518,820 366,116 47,696 1,932,632 Gross profit 315,144 60,888 15,283 391,315 Operating expenses: Selling and administrative expenses 248,820 49,905 11,276 310,001 Severance and restructuring expenses 3,087 702 13 3,802 Acquisition and integration related expenses 51 — — 51 Earnings from operations $ 63,186 $ 10,281 $ 3,994 $ 77,461
Summary of Total Assets by Reportable Operating Segment	The following is a summary of our total assets by reportable operating segment (in thousands): March 31, December 31, North America $ 6,413,510 $ 6,521,591 EMEA 1,156,494 1,058,734 APAC 265,172 171,820 Corporate assets and intercompany eliminations, net (1,267,937) (1,465,795) Total assets $ 6,567,239 $ 6,286,350
Summary of Pre-Tax Depreciation and Amortization by Operating Segment	We recorded the following pre-tax amounts, by reportable operating segment, for depreciation and amortization in the accompanying consolidated financial statements (in thousands): Three Months Ended 2024 2023 Depreciation and amortization of property and equipment: North America $ 6,073 $ 5,648 EMEA 757 596 APAC 131 109 6,961 6,353 Amortization of intangible assets: North America 13,146 7,785 EMEA 1,670 412 APAC 109 113 14,925 8,310 Total $ 21,886 $ 14,663

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
Acquisition (Tables)	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Summary of Purchase Price and Estimated Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary purchase price and the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition (in thousands): Total purchase price, net of cash and cash equivalents acquired $ 424,252 Fair value of net assets acquired: Current assets $ 346,693 Identifiable intangible assets - see description below 158,100 Property and equipment 2,266 Other assets 260,185 Current liabilities (332,681) Long-term liabilities, including long-term accounts payable (126,078) Total fair value of net assets acquired 308,485 Excess purchase price over fair value of net assets acquired ("goodwill") $ 115,767
Summary of Intangible Assets Acquired as Part of Business Combination	The identifiable intangibles resulting from the acquisition are amortized using the straight-line method over the following estimated useful lives: Intangible Assets Estimated Economic Life Customer relationships 10 Years Trade name 3 Years Non-compete agreements 3-5 Years

Basis of Presentation and Rec_4

Basis of Presentation and Recently Issued Accounting Standards - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	3

Receivables, Contract Liabili_3

Receivables, Contract Liabilities and Performance Obligations - Summary of Information about Receivables and Contract Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Current receivables, which are included in “Accounts receivable, net”	$ 3,573,253	$ 3,568,290
Contract assets, net	100,648	120,518
Long-term accounts receivable	618,672	412,666
Long-term contract assets, net	121,994	132,780
Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities”	105,143	107,217
Accounts Receivable, Net
Disaggregation of Revenue [Line Items]
Current receivables, which are included in “Accounts receivable, net”	3,573,253	3,568,290
Accrued Expenses and Other Current Liabilities and Other Liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities”	$ 105,143	$ 107,217

Receivables, Contract Liabili_4

Receivables, Contract Liabilities and Performance Obligations - Summary of Changes in Contract Liabilities from Contract with Customers (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Changes in Contract Assets [Roll Forward]
Beginning balance, contract assets	$ 272,287
Reclassification of beginning contract assets to receivables, as a result of rights to consideration becoming unconditional	(40,523)
Contract assets recognized, net of reclassification to receivables	9,429
Ending balance, contract assets	241,193
Changes in Contract Liabilities [Roll Forward]
Beginning balance, contract liabilities	107,217
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	(37,570)
Cash received in advance and not recognized as revenue	35,496
Ending balance, contract liabilities	$ 105,143

Receivables, Contract Liabili_5

Receivables, Contract Liabilities and Performance Obligations - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract assets	$ 222,642
Contract with customer, liability, revenue recognized		$ 26,611,000
Time and material contracts expected duration	21 months

Receivables, Contract Liabili_6

Receivables, Contract Liabilities and Performance Obligations - Gross Contract Assets by Internal Risk Ratings (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Contract assets, net of allowances	$ 241,193	$ 272,287
Low risk
Disaggregation of Revenue [Line Items]
Contract assets, net of allowances	37,309
Moderate risk
Disaggregation of Revenue [Line Items]
Contract assets, net of allowances	60,218
High risk
Disaggregation of Revenue [Line Items]
Contract assets, net of allowances	$ 143,666

Receivables, Contract Liabili_7

Receivables, Contract Liabilities and Performance Obligations - Summary of Estimated Net Sales Related to Performance Obligation (Detail) - Services $ in Thousands	Mar. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 217,081
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 93,751
Remaining performance obligation, expected timing of satisfaction period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 51,922
Remaining performance obligation, expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 28,630
Remaining performance obligation, expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 42,778
Remaining performance obligation, expected timing of satisfaction period	1 year

Net Earnings Per Share - Reconc

Net Earnings Per Share - Reconciliation of Denominators of Basic and Diluted EPS Calculations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net earnings	$ 67,027	$ 49,972
Denominator:
Weighted average shares used to compute basic EPS (in shares)	32,596	33,706
Dilutive potential common shares due to dilutive RSUs, net of tax effect (in shares)	348	314
Dilutive potential common shares due to the Warrants (in shares)	2,263	877
Weighted average shares used to compute diluted EPS (in shares)	38,435	37,207
Net earnings per share:
Basic (in usd per share)	$ 2.06	$ 1.48
Diluted (in usd per share)	$ 1.74	$ 1.34
Notes
Denominator:
Dilutive potential common shares due to the Notes (in shares)	3,228	2,310

Net Earnings Per Share - Additi

Net Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
RSUs excluded from the diluted EPS calculations (in shares)	25,162	84,137

Debt, Inventory Financing Fac_3

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Finance leases and other financing obligations	$ 36	$ 1,033
Total	881,572	940,521
Less: current portion of long-term debt	(331,566)	(348,004)
Long-term debt	550,006	592,517
Convertible senior notes due 2025
Debt Instrument [Line Items]
Convertible senior notes due 2025	331,540	347,988
ABL revolving credit facility
Debt Instrument [Line Items]
ABL revolving credit facility	$ 549,996	$ 591,500

Debt, Inventory Financing Fac_4

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Additional Information (Detail)	1 Months Ended	3 Months Ended
	Sep. 30, 2023 USD ($)	Mar. 31, 2024 USD ($) d shares $ / shares	Dec. 31, 2023 USD ($)	Jul. 22, 2022 USD ($)	Jul. 21, 2022 USD ($)	Aug. 31, 2019 USD ($)
Debt Instrument [Line Items]
Accounts payable-inventory financing facility		$ 227,062,000	$ 231,850,000
Convertible senior notes due 2025
Debt Instrument [Line Items]
Aggregate principal amount of notes, issued amount		333,105,000	350,000,000			$ 350,000,000
Notes, interest rate						0.75%
Principal amount per note used in conversion rate		$ 1,000
Conversion price per share (in usd per share) \| $ / shares		$ 88.82
Debt conversion, initial conversion rate (in shares) \| shares		14.6376
Conversion price per share (in usd per share) \| $ / shares		$ 68.32
Repurchase price as percentage of principal amount		100%
Shares issuable upon conversion of debt (in shares) \| shares		6,788,208
Debt conversion amount	$ 16,895,000
Notes, remaining accretion period of debt discount and issuance cost		10 months 13 days
Notes, effective interest rate		0.75%
Conversion price per share (in usd per share) \| $ / shares		$ 68.32
Payments to convertible note hedge transaction		$ 66,325,000
Warrants sold to purchase of additional common stock (in shares) \| shares		5,123,160
Warrant price per share to purchase additional common stock (in usd per share) \| $ / shares		$ 103.12
Proceeds from sale of warrants		$ 34,440,000
Convertible senior notes due 2025 \| Scenario One
Debt Instrument [Line Items]
Number of trading days \| d		20
Number of consecutive trading days \| d		30
Percentage of last reported sale price to conversion price on each applicable trading day		130%
Convertible senior notes due 2025 \| Scenario Two
Debt Instrument [Line Items]
Number of consecutive trading days \| d		5
Percentage of last reported sale price to conversion price on each applicable trading day		98%
Measurement period		5 days
Convertible senior notes due 2025 \| Maximum
Debt Instrument [Line Items]
Option to purchase common stock (in shares) \| shares		5,123,160
ABL revolving credit facility
Debt Instrument [Line Items]
Line of credit outstanding amount		$ 549,996,000	591,500,000
ABL revolving credit facility \| Maximum
Debt Instrument [Line Items]
Credit facility, increase in amount available for borrowing		750,000,000
ABL revolving credit facility \| Third Amendment to Credit Agreement
Debt Instrument [Line Items]
Credit facility, borrowing capacity		1,800,000,000		$ 1,800,000,000	$ 1,200,000,000
Current capacity		1,403,547,000
ABL revolving credit facility \| Foreign Currency Borrowings
Debt Instrument [Line Items]
Credit facility, borrowing capacity				$ 350,000,000
ABL revolving credit facility \| First-In, Last-Out Revolving Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity		100,000,000
Unsecured Inventory Financing Facility \| MUFG Bank Ltd
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity		$ 280,000,000,000
Inventory financing facility rate if vendor terms not met equal prime plus		2%
Unsecured Inventory Financing Facility \| PNC Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity			375,000,000
Inventory financing facility rate if vendor terms not met equal LIBOR plus		0.25%
Unsecured Inventory Financing Facility \| Canada Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity			25,000,000
Inventory financing facility rate if vendor terms not met equal LIBOR plus		4.50%
Unsecured Inventory Financing Facility \| EMEA Facilities
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity			$ 50,000,000
Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity		$ 705,000,000
Accounts payable-inventory financing facility		$ 227,062,000

Debt, Inventory Financing Fac_5

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Summary of Convertible Senior Notes Balances (Detail) - Convertible senior notes due 2025 - USD ($)	Mar. 31, 2024	Dec. 31, 2023	Aug. 31, 2019
Liability:
Principal	$ 333,105,000	$ 350,000,000	$ 350,000,000
Less: debt issuance costs, net of accumulated amortization	(1,565,000)	(2,012,000)
Net carrying amount	$ 331,540,000	$ 347,988,000

Income Taxes (Detail)

Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	24%	24.70%
Unrecognized tax benefits	$ 14,654		$ 13,947
Unrecognized tax benefits, interest on income taxes accrued	$ 1,927		$ 1,767

Share Repurchase Program (Detai

Share Repurchase Program (Detail) - USD ($)	3 Months Ended
Share Repurchase Program (Detail) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	May 18, 2023
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized remaining amount	$ 165,020,476
Common stock repurchase program, number of shares repurchased (in shares)	187,357	913,445
Repurchase program, approximate dollar value of shares purchased	$ 34,999,897	$ 117,129,000
Repurchase program, average price paid per share (in usd per share)	$ 186.81	$ 128.23
September 19, 2022 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized remaining amount			$ 100,000,000
May 18 2023 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized amount			$ 300,000,000

Commitments and Contingencies (

Commitments and Contingencies (Detail)	3 Months Ended
Commitments and Contingencies (Detail)	Mar. 31, 2024 USD ($)
Commitments And Contingencies [Line Items]
Minimum required purchase commitment amount	$ 100,467,000
Purchase commitment term	5 years
Remaining amount	$ 91,529,000
Minimum
Commitments And Contingencies [Line Items]
Number of months of salary paid as severance	3 months
Maximum
Commitments And Contingencies [Line Items]
Number of months of salary paid as severance	24 months
Software as a Service
Commitments And Contingencies [Line Items]
Minimum required purchase commitment amount	$ 40,000,000
Purchase commitment term	4 years
Remaining amount	$ 26,123,000
Contingent liability	21,415,000
Surety Bond
Commitments And Contingencies [Line Items]
Performance bonds outstanding	$ 27,672,314

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
Segment Information - Additional Information (Detail)	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	3

Segment Information - Summary o

Segment Information - Summary of Revenue Disaggregated by Reportable Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Total net sales	$ 2,379,485	$ 2,323,947
Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Total net sales	2,195,851	2,180,404
Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Total net sales	183,634	143,543
North America
Segment Reporting Information [Line Items]
Total net sales	1,904,822	1,833,964
North America \| Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Total net sales	1,762,245	1,725,177
North America \| Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Total net sales	142,577	108,787
EMEA
Segment Reporting Information [Line Items]
Total net sales	412,841	427,004
EMEA \| Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Total net sales	381,082	401,343
EMEA \| Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Total net sales	31,759	25,661
APAC
Segment Reporting Information [Line Items]
Total net sales	61,822	62,979
APAC \| Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Total net sales	52,524	53,884
APAC \| Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Total net sales	9,298	9,095
Large Enterprise / Corporate
Segment Reporting Information [Line Items]
Total net sales	1,697,769	1,623,998
Large Enterprise / Corporate \| North America
Segment Reporting Information [Line Items]
Total net sales	1,367,303	1,293,533
Large Enterprise / Corporate \| EMEA
Segment Reporting Information [Line Items]
Total net sales	308,298	309,063
Large Enterprise / Corporate \| APAC
Segment Reporting Information [Line Items]
Total net sales	22,168	21,402
Commercial
Segment Reporting Information [Line Items]
Total net sales	381,265	393,840
Commercial \| North America
Segment Reporting Information [Line Items]
Total net sales	357,289	372,025
Commercial \| EMEA
Segment Reporting Information [Line Items]
Total net sales	8,913	4,790
Commercial \| APAC
Segment Reporting Information [Line Items]
Total net sales	15,063	17,025
Public Sector
Segment Reporting Information [Line Items]
Total net sales	300,451	306,109
Public Sector \| North America
Segment Reporting Information [Line Items]
Total net sales	180,230	168,406
Public Sector \| EMEA
Segment Reporting Information [Line Items]
Total net sales	95,630	113,151
Public Sector \| APAC
Segment Reporting Information [Line Items]
Total net sales	24,591	24,552
Hardware
Segment Reporting Information [Line Items]
Total net sales	1,134,727	1,328,845
Hardware \| North America
Segment Reporting Information [Line Items]
Total net sales	991,066	1,155,639
Hardware \| EMEA
Segment Reporting Information [Line Items]
Total net sales	136,314	162,890
Hardware \| APAC
Segment Reporting Information [Line Items]
Total net sales	7,347	10,316
Software
Segment Reporting Information [Line Items]
Total net sales	829,228	638,800
Software \| North America
Segment Reporting Information [Line Items]
Total net sales	595,240	394,797
Software \| EMEA
Segment Reporting Information [Line Items]
Total net sales	203,252	214,561
Software \| APAC
Segment Reporting Information [Line Items]
Total net sales	30,736	29,442
Services
Segment Reporting Information [Line Items]
Total net sales	415,530	356,302
Services \| North America
Segment Reporting Information [Line Items]
Total net sales	318,516	283,528
Services \| EMEA
Segment Reporting Information [Line Items]
Total net sales	73,275	49,553
Services \| APAC
Segment Reporting Information [Line Items]
Total net sales	$ 23,739	$ 23,221

Segment Information - Financial

Segment Information - Financial Information about Reportable Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Total net sales	$ 2,379,485	$ 2,323,947
Total costs of goods sold	1,938,557	1,932,632
Gross profit	440,928	391,315
Operating expenses:
Selling and administrative expenses	337,434	310,001
Severance and restructuring expenses	2,227	3,802
Acquisition and integration related expenses	1,281	51
Earnings from operations	99,986	77,461
Products
Segment Reporting Information [Line Items]
Total net sales	1,963,955	1,967,645
Total costs of goods sold	1,771,584	1,772,729
Gross profit	192,371	194,916
Services
Segment Reporting Information [Line Items]
Total net sales	415,530	356,302
Total costs of goods sold	166,973	159,903
Gross profit	248,557	196,399
North America
Segment Reporting Information [Line Items]
Total net sales	1,904,822	1,833,964
Total costs of goods sold	1,554,979	1,518,820
Gross profit	349,843	315,144
Operating expenses:
Selling and administrative expenses	262,920	248,820
Severance and restructuring expenses	1,619	3,087
Acquisition and integration related expenses	1,281	51
Earnings from operations	84,023	63,186
North America \| Products
Segment Reporting Information [Line Items]
Total net sales	1,586,306	1,550,436
Total costs of goods sold	1,426,673	1,387,962
North America \| Services
Segment Reporting Information [Line Items]
Total net sales	318,516	283,528
Total costs of goods sold	128,306	130,858
EMEA
Segment Reporting Information [Line Items]
Total net sales	412,841	427,004
Total costs of goods sold	337,808	366,116
Gross profit	75,033	60,888
Operating expenses:
Selling and administrative expenses	63,305	49,905
Severance and restructuring expenses	538	702
Acquisition and integration related expenses	0	0
Earnings from operations	11,190	10,281
EMEA \| Products
Segment Reporting Information [Line Items]
Total net sales	339,566	377,451
Total costs of goods sold	310,072	347,633
EMEA \| Services
Segment Reporting Information [Line Items]
Total net sales	73,275	49,553
Total costs of goods sold	27,736	18,483
APAC
Segment Reporting Information [Line Items]
Total net sales	61,822	62,979
Total costs of goods sold	45,770	47,696
Gross profit	16,052	15,283
Operating expenses:
Selling and administrative expenses	11,209	11,276
Severance and restructuring expenses	70	13
Acquisition and integration related expenses	0	0
Earnings from operations	4,773	3,994
APAC \| Products
Segment Reporting Information [Line Items]
Total net sales	38,083	39,758
Total costs of goods sold	34,839	37,134
APAC \| Services
Segment Reporting Information [Line Items]
Total net sales	23,739	23,221
Total costs of goods sold	$ 10,931	$ 10,562

Segment Information - Summary_2

Segment Information - Summary of Total Assets by Reportable Operating Segment (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 6,567,239	$ 6,286,350
Operating Segments \| North America
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	6,413,510	6,521,591
Operating Segments \| EMEA
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,156,494	1,058,734
Operating Segments \| APAC
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	265,172	171,820
Intersegment Eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ (1,267,937)	$ (1,465,795)

Segment Information - Pre-Tax D

Segment Information - Pre-Tax Depreciation and Amortization by Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	$ 6,961	$ 6,353
Amortization of intangible assets	14,925	8,310
Depreciation and amortization, total	21,886	14,663
North America
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	6,073	5,648
Amortization of intangible assets	13,146	7,785
EMEA
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	757	596
Amortization of intangible assets	1,670	412
APAC
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	131	109
Amortization of intangible assets	$ 109	$ 113

Acquisition - Additional Inform

Acquisition - Additional Information (Detail) $ in Thousands			1 Months Ended	3 Months Ended
	Dec. 01, 2023 USD ($) Teammate Office	Aug. 17, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Goodwill			$ 680,876	$ 680,876	$ 684,345
SADA Systems, LLC
Business Acquisition [Line Items]
Acquisition, percentage of issued and outstanding shares acquired	100%
Business combination, consideration transferred	$ 399,762
Cash and cash equivalents acquired from acquisition	$ 24,701
Number of office \| Office	3
Cash paid to acquire business	$ 424,252
Cash purchase price	423,290
Contractual adjustments	1,173
Seller retention fund	5,000
Business combination, contingent consideration, liability	21,288
Seller incentive opportunity	390,000
Stock-based compensation liabilities	68,335
Transaction costs	16,852
Goodwill adjustments				1,255
Indemnification receivable			1,798	$ 1,798
Estimated fair value of net assets acquired	308,485
Identifiable intangible assets - see description below	158,100
Goodwill	115,767
SADA Systems, LLC \| Customer Relationships
Business Acquisition [Line Items]
Identifiable intangible assets - see description below	$ 124,700
Finite-lived intangible asset, useful life	10 years
SADA Systems, LLC \| Noncompete Agreements
Business Acquisition [Line Items]
Identifiable intangible assets - see description below	$ 26,200
SADA Systems, LLC \| Trade Names
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	3 years
SADA Systems, LLC \| Minimum
Business Acquisition [Line Items]
Number of teammates \| Teammate	800
SADA Systems, LLC \| Minimum \| Noncompete Agreements
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	3 years
SADA Systems, LLC \| Maximum \| Noncompete Agreements
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	5 years
Amdaris
Business Acquisition [Line Items]
Acquisition, percentage of issued and outstanding shares acquired		100%
Cash paid to acquire business		$ 82,875
Estimated fair value of net assets acquired		34,060
Goodwill		71,698
Earnout payment			$ 14,348
Intangible assets acquired		$ 41,291
Amdaris \| Customer Relationships
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		10 years
Amdaris \| Minimum
Business Acquisition [Line Items]
Business combination, contingent consideration, liability		$ 0
Amdaris \| Maximum
Business Acquisition [Line Items]
Business combination, contingent consideration, liability		$ 54,391

Acquisition - Summary of Purcha

Acquisition - Summary of Purchase Price and Estimated Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Dec. 01, 2023	Mar. 31, 2024	Dec. 31, 2023
Fair value of net assets acquired:
Excess purchase price over fair value of net assets acquired ("goodwill")		$ 680,876	$ 684,345
SADA Systems, LLC
Business Acquisition [Line Items]
Cash paid to acquire business	$ 424,252
Fair value of net assets acquired:
Current assets	346,693
Identifiable intangible assets - see description below	158,100
Property and equipment	2,266
Other assets	260,185
Current liabilities	(332,681)
Long-term liabilities, including long-term accounts payable	(126,078)
Total fair value of net assets acquired	308,485
Excess purchase price over fair value of net assets acquired ("goodwill")	$ 115,767

Subsequent Event (Details)

Subsequent Event (Details) - InfoCenter.io - Subsequent Event $ in Thousands	May 01, 2024 USD ($)
Subsequent Event [Line Items]
Acquisition, percentage of issued and outstanding shares acquired	100%
Business combination, consideration transferred	$ 265,000
Seller incentive opportunity	$ 106,250